Ukrproduct Group Ltd 03 June 2005 Ukrproduct Group Ltd 3 June 2005 UKRPRODUCT GROUP LTD ('UPG') Board Change Ukrproduct Group announces that Paul Williams, Non-Executive Director, has decided not to offer himself for election as a Director at the upcoming AGM on 29 June, in order to pursue other business interests. Paul will stand down from the Board on 20 August 2005. Paul has been a Non-Executive Director of UPG since November 2004. Jack Rowell, Non-Executive Chairman, said, "On behalf of the Board, I would like to say how grateful we are to Paul for the contribution he made during the Group's successful flotation on AIM this year. We wish him every success in the future." For further information, contact: Ukrproduct Group Sergey Evlanchik, CEO Dmitry Dragun, FD +380 44 502 8014 Financial Dynamics Benjamin Foster Charles Watenphul +44 (0) 207 831 3113 Notes to editors Ukrproduct Group (UPG) is one of Ukraine's leading producers of branded foods. Headquartered in Kyiv and registered in Jersey, the company's main business focuses is the production and distribution of branded food products, namely packaged butter and processed cheese, to wholesale and retail outlets in Ukraine through its own distribution network. UPG also produces skimmed milk powder for export to countries across Europe as well as the Far East. UPG is the market leader in the processed cheese and packaged butter segments, with estimated market shares of 33% and 23% respectively. UPG is one of Ukraine's fastest growing companies within its sector, with compound average sales growth of 55% between 2001-2004. On 11 February 2005,Ukrproduct Group Ltd, became the first Ukrainian trading group to be admitted to AIM. The company successfully placed 27.2% of its share capital at 53.5p per share, giving the company an initial market capitalisation of £22.5 million. UPG recently reported strong preliminary results for the year ended 31 December 2004. Sales rose to £27.1 million (2003: £17.6m) and PBT increased to £1.7 million (2003: £1.2m). This information is provided by RNS The company news service from the London Stock Exchange